African Equity Empowerment Investments Limited
(Incorporated in the Republic of South Africa)
Registration number 1996/006093/06
Share code: AEE and ISIN: ZAE000195731
(“AEEI” or “the Group” or “the Company”)


   SHORT FORM ANNOUNCEMENT - REVIEWED PROVISIONAL CONDENSED CONSOLIDATED
               ANNUAL RESULTS FOR THE YEAR ENDED 31 AUGUST 2022


FINANCIAL INDICATORS

                                                              31 August                      31 August
                                                                   2022                           2021             % Change
                                                                  R’000                          R’000
 Revenue                                                        2 333 470                      2 339 169               (0,24%)
 Net cash utilised in operating activities                       (207 540)                     (195 609)                 6,10%
 Loss before tax                                                 (330 829)                     (180 849)               82,93%
 Basic loss per share (cents)                                       (45,78)                       (26,48)              72,89%
 Headline loss                                                   (182 452)                     (108 373)               68,36%
 Headline loss per share (cents)                                    (37,16)                       (22,07)              68,36%
 Normalised headline losses                                       (12 560)                          (688)           1 726,17%
 Normalised headline loss per share
                                                                     (2,56)                         (0,14)          1 726,17%
 (cents)
 Net asset value per share (cents)                                  993,32                      1 102,54               (9,91%)
 Total assets                                                   6 104 302                      6 449 826               (5,36%)
 Gross final dividend (cents)                                              –                            10          (100,00%)
 Final gross dividend to shareholders                                      –                      49 102            (100,00%)
 Total gross dividend to shareholders
                                                                           –                            40          (100,00%)
 (cents)
 Total gross dividend to shareholders                                      –                     196 408            (100,00%)


The board has not declared a dividend for the year ending 31 August 2022.




                                         TEL: +27 21 427 1500 | EMAIL: INFO@AEEI.CO.ZA
                   1 ST FLOOR, WATERWAY HOUSE NORTH, 3 DOCK ROAD, V&A WATERFRONT | CAPE TOWN, 8001, RSA
                                              P O BOX 181 | CAPE TOWN, 8000, RSA
                                               REGISTRATION NO: 1996/ 006093/06
                                                        WWW.AEEI.CO.ZA

                             DIRECTORS: V DZVOVA (CHIEF EXECUTIVE OFFICER); JS VAN WYK (CHIEF FINANCIAL OFFICER);
         AB AMOD; G COLBIE; B QAMA; W RAUBENHEIMER; S NTHITE; M MDLADLANA; C GEUKING-COHAUZ, C KANNEMEYER (COMPANY SECTRARY)



                                                  A
 *Normalised losses were calculated as follows:

                                                                                31 August       31 August
                                                                                     2022            2021
                                                                                    R’000           R’000
  Headline loss                                                                  (330 829)       (180 848)
  Fair value adjustments                                                            37 426        (57 277)
  Net impairments and write-offs                                                  140 550          152 132
  Normalised headline losses                                                     (152 853)        (85 993)


Shareholders are hereby advised that AEEI’s reviewed provisional condensed consolidated results for the
year ended 31 August 2022 are available on AEEI’s website at https://aeei.co.za/sens-announcement/ and
can be viewed at https://senspdf.jse.co.za/documents/2022/jse/isse/aee/SENSLF.




STATEMENT OF COMPLIANCE AND BASIS OF PREPARATION

This short-form announcement contains only a summary of the information contained in the full
announcement and does not contain the full and complete details and is the responsibility of the board of
directors (“Board”).

The condensed consolidated financial statements were reviewed by Thawt Inc. and Crowe Jhb Inc. whose
unmodified review opinion has been issued on the reviewed provisional condensed consolidated financial
statements for the financial year ended 31 August 2022.

Please refer to the full announcement for additional information. The full announcement has been released
on SENS and is also available for viewing on AEEI’s website at https://aeei.co.za/sens-announcement/ and
https://senspdf.jse.co.za/documents/2022/jse/isse/aee/SENSLF.pdf respectively. It may be requested from
the Company via cornell.kannemeyer@aeei.co.za or obtained in person, at no charge during office hours,
from the registered office of the Company; or can be obtained electronically from either of the joint sponsors
by sending an email to sponsorteam@merchantec.co.za or sponsor@vunanicapital.co.za during business
hours. Any investment decisions by investors and/or shareholders should be based on consideration of the
full announcement.

APPRECIATION
We wish to thank our employees, Group executives, management, our Board, as well as our strategic
partners, stakeholders and business partners for their loyalty and dedication.

Mrs Aziza Amod                                                    Mrs Valentine Dzvova
Non-executive chairperson                                         Chief executive officer

Cape Town
1 December 2022

DIRECTORATE AND STATUTORY INFORMATION
Directors

* Valentine Dzvova (chief executive officer); Aziza Amod (Non -executive chairperson); *Jowayne Van Wyk
(chief financial officer); Gaamiem Colbie; Willem Raubenheimer; Bongikhaya Qama: Stephen Nthite,
Membathisi Mdladlana and Carin-Lee Geuking-Cohausz
*Executive directors
Company Secretary:          Cornell Kannemeyer Email: cornell.kannemeyer@aeei.co.za

Business address:          1st Floor, Waterway House North, 3 Dock Road, Victoria and Alfred Waterfront,
                           Cape Town, Western Cape, 8001
Transfer secretaries:   JSE Investor Services Proprietary Limited, Rennie House, 13th Floor, 19
                        Ameshoff Street, Braamfontein, 2001
Joint Auditors:         Crowe JHB
                        3 Sandown Valley Crescent, Sandown, Johannesburg, 2196
                        Thawt Inc.
                        3 Monte Vista Blvd, Monte Vista, Cape Town, 7460

Joint Sponsors:         Vunani Capital Proprietary Limited
                        Vunani House, Vunani Office Park, 151 Katherine Street, Sandown,
                        Johannesburg, 2196
                        Merchantec Capital
                        13th Floor, lllovo Point,68 Melville Road, lllovo, 2196